I had intended to instruct a property lawyer in Soham for our house purchase. Our financial adviser has since notified us that our bank Halifax won't deal with them. Why is this not regarded as unduly restrictive?
Banks on the whole restrict either the category or the amount of conveyancing solicitors on their panel. Typical examples of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, a few banks have reduced the number of solicitor practices they allow to act for them. Be aware that Halifax have no responsibility for the quality of advice provided by any member of Halifax Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels a few years ago even though there remains differing opinions about the level of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near Soham only perform one or two conveyances per annum.
I have justbeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Soham for a purchase of a freehold house 18 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Soham conveyancing specialists.
I am looking for a flat up to £305k and found one round the corner in Soham I like with open areas and transport links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Soham in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Is it possible to change solicitor as I have to instruct one who is on the Leeds Building Society conveyancing panel. I instructed a high street conveyancing solicitor in Soham round the corner but he is not accepted by Leeds Building Society
It would be our pleasure to help you select a conveyancing solicitor in Soham on the Leeds Building Society panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Soham. In making use of the find a conveyancing solicitor tool on this website, you can scrutinise fees for conveyancing solicitors in Soham and beyond.
Why do Soham conveyancing charges differ for leasehold and freehold properties?
Leasehold conveyancing in Soham will often involve additional work for instance investigating the lease, liaising with the freeholder, obtaining up to date rent receipts, landlord’s consents, management company’s accounts amongst other tasks.